Ocean Partners JV with Credo Capital
Media release – for immediate release
Ocean Partners JV with Credo Capital
Christchurch-based investment bank Ocean Partners has announced a joint venture with London-based specialist wealth manager Credo Capital to offer unique products to high net worth investors in New Zealand, Senior Partner and co-founder Paul Park says.
Against the background of the worsening credit crunch in the world’s financial markets and some dire predictions for the New Zealand economy as a result, the country’s wealthiest individuals will now have unprecedented access to a broad base of secure investment tools in the same league as high net worth European and other global investors.
“There is such a high degree of uncertainty in the current markets that many investors do not know where to seek refuge,” Park says.
“However, with the New Zealand dollar at an all-time high, access to international investments diversified across asset classes and providers will likely be an attractive option to local investors seeking to minimise risk and to have an opportunity to make money through an exposure to foreign currencies.
“Our relationship with Credo will provide
us with access to a suite of products and services that are
often only available to wealthy international investors. We
can then take these products and specifically tailor them
for high net worth New Zealanders,” Park says.
Credo will provide its range of services to high net worth clients of Ocean Partners, a boutique merchant bank, advisory firm and private investment office. These services include asset management, stockbroking, commercial property, multi-family office and trust & fiduciary services.
“Since inception we have been looking to work closely with an internationally focused premium wealth manager which would complement our growing business in New Zealand,” Park says.
“We chose Credo because of its investment approach, relationships with sought after fund managers and ability to effectively co-ordinate the functions of a family office.
“We are also impressed with Credo’s sophisticated online reporting platform which will be useful to New Zealand high net worth individuals and wealthy families who want up to date, accurate and consolidated information regarding their global investment portfolio,” he says.
Stephen Davis, Director of Credo Capital, says: “We are very pleased that Ocean has chosen us as its partner and reiterates the strength of our wealth management and multi-family office offering. We are impressed with the calibre of Ocean Partners and their vision.
“We are confident that this arrangement will be mutually beneficial to both parties and will grow into a substantial venture,” Davis says.
The joint venture will give high net worth New Zealand investors the opportunity to work on the same stage as international players. They will have access to products and services never before available in this country. This includes access, amongst other things, to leading global hedge fund managers and unique commercial property funds.
Separately, former Reserve Bank of New Zealand Governor and Leader of the Opposition Don Brash has joined the board of Ocean Partners.
About Ocean Partners
Ocean Partners is a boutique investment bank providing corporate finance advisory services to a range of local and international companies seeking to complete mergers, acquisitions, divestments or capital raisings in the New Zealand marketplace. In addition, the company operates a private investment office which originates and manages investments on behalf of a small number of local and international private office clients.
The Directors of Ocean Partners include: Craig Heatley, the former founder of Rainbow Corporation and Sky Television, who is the Chairman; Dr. Don Brash, the former Leader of the Opposition and Governor of the Reserve Bank of New Zealand; Andrew Gregory, a South African-based investor managing a range of private family investments; and Tim Howe and Paul Park, who are both former Partners of the Ernst & Young New Zealand practice. Sarah Ott and Steve Surridge, who are both experienced corporate finance practitioners, are Partners of the firm.
Further information about Ocean Partners and its approach to a variety of business issues can be found at www.oceanpartners.co.nz
About Credo Capital
Credo is an independent financial services group that offers private clients personalised wealth management solutions.
Its sole purpose is to assist investors to protect their wealth and help it to grow. Its services include asset management, stockbroking, commercial property, multi-family office and trust & fiduciary services. Credo last year entered into a joint venture with National Australia Bank to purchase and manage European-based commercial property.